Conversion Of Social Club To Three Houses
Location: South Wales
A finance-broker approached us to obtain property refurbishment finance for his client (a local building company). The plan was to convert a dilapidated social club, which had been closed for several years, into three houses.The building company had acquired the old social club at auction. This particular development involved a proposal to demolish half of the existing structure, and then add an extension (to the part remaining), while making provision for parking and small garden areas.The builders performed excellent work on the conversion. The completed houses sold quickly and well above the estimated price. We provided and released 100% of build costs in our staged payment schedule to the builders.